{"id":1482,"date":"2023-08-07T12:45:04","date_gmt":"2023-08-07T07:15:04","guid":{"rendered":"https:\/\/savart.com\/blog\/?p=1482"},"modified":"2023-08-07T12:45:05","modified_gmt":"2023-08-07T07:15:05","slug":"mpc-highlights-rbi-hikes-repo-rate-by-50-basis-points","status":"publish","type":"post","link":"https:\/\/savart.com\/blog\/mpc-highlights-rbi-hikes-repo-rate-by-50-basis-points\/","title":{"rendered":"MPC Highlights &#8211; RBI Hikes Repo Rate by 50 basis points"},"content":{"rendered":"<p class=\"p1\"><b><\/b><\/p>\n<div class=\"wp-block-spacer\" aria-hidden=\"true\">\u00a0<\/div>\n<p class=\"p1\"><b>MPC Highlights &#8211; RBI Hikes Repo Rate by 50 basis points<\/b><\/p>\n<p class=\"p2\">The Reserve Bank of India today raised its Repo rate by 50 basis points to 4.90 percent. This is the second hike in the last five weeks. The last hike was announced in an unscheduled meeting on May 4th where the repo rate was raised by 40 basis points.<\/p>\n<div class=\"wp-block-spacer\" aria-hidden=\"true\">\u00a0<\/div>\n<p class=\"p2\"><\/p>\n<p class=\"p3\"><span class=\"s1\"><b><i>Read: <\/i><\/b><a href=\"https:\/\/savart.com\/rbi-repo-rate-hike-impact-on-trade-and-public\/\"><span class=\"s2\"><b><i>RBI Repot Rate Hike Impact on Trade &amp; Public<\/i><\/b>\u00a0<\/span><\/a><\/span><\/p>\n<p class=\"p2\">RBI Governor, Shaktikanta Das, stated that the rates have been increased primarily to tame the rising inflation, which has been caused by elevated commodity prices due to the war in Ukraine. For consumers, this will cause a further increase in deposit rates and EMIs.<\/p>\n<div class=\"wp-block-spacer\" aria-hidden=\"true\">\u00a0<\/div>\n<p class=\"p2\"><\/p>\n<p class=\"p2\"><b>Here are the key takeaways from today\u2019s meeting:<\/b><\/p>\n<p class=\"p2\"><i>Savart trivia: What is Repo Rate?<\/i><\/p>\n<p class=\"p2\"><i>The Repo rate is the key policy rate at which the RBI lends short-term funds to banks.<\/i><\/p>\n<p class=\"p2\">RBI is likely to increase the interest rates in the coming meetings as inflation is expected to remain high and growth is expected to slow down as a result \u2013 causing near-term challenges for the market.<\/p>\n<div class=\"wp-block-spacer\" aria-hidden=\"true\">\u00a0<\/div>\n<p class=\"p2\"><\/p>\n<p class=\"p2\">RBI revised the inflation estimates for FY23 (current year) from 5.7% to 6.7%. This is higher than the current RBI\u2019s upper threshold of the target range, i.e., 6%.<\/p>\n<div class=\"wp-block-spacer\" aria-hidden=\"true\">\u00a0<\/div>\n<p class=\"p2\"><\/p>\n<p class=\"p2\">The GDP (Gross Domestic Product) growth rate estimate has been retained by RBI at 7.2% for FY23 compared to 8.7% in FY22. GDP growth rate is expectedly lower due to inflation impacting the consumption (private final consumption expenditure contributes more than 55% to the overall GDP).<\/p>\n\n\n<div style=\"height:44px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>MPC Highlights &#8211; RBI Hikes Repo Rate by 50 basis points The Reserve Bank of India today raised its Repo rate by 50 basis points to 4.90 percent. This is the second hike in the last five weeks. The last hike was announced in an unscheduled meeting on May 4th where the repo rate was [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1995,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investments"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MPC Highlights - RBI Hikes Repo Rate by 50 basis points - Savart Blogs - Investing Simplified<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/savart.com\/blog\/mpc-highlights-rbi-hikes-repo-rate-by-50-basis-points\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MPC Highlights - RBI Hikes Repo Rate by 50 basis points - Savart Blogs - Investing Simplified\" \/>\n<meta property=\"og:description\" content=\"MPC Highlights &#8211; RBI Hikes Repo Rate by 50 basis points The Reserve Bank of India today raised its Repo rate by 50 basis points to 4.90 percent. 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